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Abstract

Written from the perspective of private equity investment, this chapter highlights the factors needed to support clean technology development, and in particular, the importance of an enabling policy environment. Drawing from the experience of a private equity fund that seeks out environmental companies and develops them into viable international enterprises, this chapter showcases examples in India whose bottom lines include social and environmental benefits for all. Cleantech has a new resonance among law makers. International urgency on climate change issues and carbon emission reduction are converging with national government policies that seek to support clean energy, green jobs, as well as lessen industrial pollution and promote waste treatment, recycling and cleaner production. This is good news for all, including discerning green investors.

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India’s Nano isn’t just a car, but also a symbol of a wave of technological innovation sweeping the country, which is helping revitalize India’s business sector even as it struggles to navigate the rocky waters of a global downturn. And at the crest of that wave is Environmental and Sustainable technology.1

India Paves A Way To A Clean Future

India represents an exciting frontier in the cleantech sector, with small, medium and large-sized companies addressing the needs of domestic and international markets alike. The country still relies very heavily on fossil fuels to power its industrial production. This places it in the top five largest emitters of carbon dioxide in the world, while more than 400 million of its population lacks access to basic electricity. At the same time, the country is making important new strides in the clean sector, capitalizing on its own massive domestic market, a history of technology innovation and a skilled science and business-literate workforce. India offers an extremely attractive market for Environmental Technologies, Equipments and Services. The total market size was estimated at USD 5.29 billion in 2006 by the US Department of State. Since the early 1990’s the market for clean technologies has been growing at an annual rate of 15%.